Time Warner Cable 2007 Annual Report Download - page 139

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Consolidating Statement of Cash Flows
Year Ended December 31, 2005
Parent
Company
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations
TWC
Consolidated
(in millions)
OPERATING ACTIVITIES
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,253 $ 664 $ 1,371 $ (2,035) $ 1,253
Adjustments for noncash and nonoperating items:
Depreciation and amortization . . . . . . . . . . . . . . . . — 589 948 — 1,537
Excess (deficiency) of distributions over equity in
pretax income of consolidated subsidiaries . . . . . . (1,371) (794) 99 2,066 —
Income from equity investments . . . . . . . . . . . . . . . — — (43) — (43)
Minority interest (income) expense . . . . . . . . . . . . . — (17) — 81 64
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . (393) (184) (186) 368 (395)
Equity-based compensation . . . . . . . . . . . . . . . . . . — 50 3 — 53
Changes in operating assets and liabilities, net of
acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 229 (194) (103) (62)
Adjustments relating to discontinued operations . . . . . . (100) 110 (83) 206 133
Cash provided (used) by operating activities . . . . . . . . (605) 647 1,915 583 2,540
INVESTING ACTIVITIES
Investments and acquisitions, net of cash acquired . . . . — (36) (77) — (113)
Capital expenditures from continuing operations . . . . . — (653) (1,184) — (1,837)
Capital expenditures from discontinued operations . . . . — (68) (70) — (138)
Proceeds from disposal of property, plant and
equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1 3 — 4
Investments and acquisitions from discontinued
operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (48) — (48)
Cash used by investing activities . . . . . . . . . . . . . . . . — (756) (1,376) — (2,132)
FINANCING ACTIVITIES
Borrowings (repayments), net . . . . . . . . . . . . . . . . . . 163 — — (585) (422)
Changes in due (to) from parent and investment in
subsidiary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 410 665 (493) (582) —
Principal payments on capital leases . . . . . . . . . . . . . . — — (1) — (1)
Distributions to owners, net . . . . . . . . . . . . . . . . . . . . — (30) — — (30)
Debt repayments of discontinued operations . . . . . . . . — — (45) — (45)
Cash provided (used) by financing activities . . . . . . . . 573 635 (539) (1,167) (498)
INCREASE (DECREASE) IN CASH AND
EQUIVALENTS . . . . . . . . . . . . . . . . . . . . . . . . . (32) 526 — (584) (90)
CASH AND EQUIVALENTS AT BEGINNING OF
PERIOD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 347 — (289) 102
CASH AND EQUIVALENTS AT END OF
PERIOD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 12 $ 873 $ — $ (873) $ 12
134
TIME WARNER CABLE INC.
SUPPLEMENTARY INFORMATION
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS—(Continued)